can we be held liable for behind payment on shops rent?
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can we be held liable for behind payment on shops rent?
good day.
my mother in law passed away about 2 weeks ago, and left her dvd rental shop to us, we founded out that she has been behind about 6months on rent. can the landlord hold us liable to pay all that money back?
thank you Bonni
Asked on January 12, 2017 under Estate Planning, Alaska
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
You would not be liable if refuse the inheritance (people cannot be made to inherit against their will, and as a general rule, heirs are not liable for the deceased's debts). But if accept the inheritance of the business, then you will make yourself responsible for its debts; in taking over the business, you take over its obligations (that is somewhat oversimplified, since the exact structure of the business influences exactly what happens).
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